Funding secured by Coalfield Resources

COALFIELD Resources, the new name for UK Coal, is expected to undertake an equity fundraising this year to repay a vital bank loan.

Following the restructuring of UK Coal last December, the group now has two divisons covering mining and property.

Chairman Jonson Cox said: "Following the restructuring on 10 December 2012, Coalfield Resources plc no longer has operational responsibilities but is an active investor in Harworth Estates. The company also holds a residual minority investment in Mine Holdings.